Jan-May Trade surplus with u.s. widens to $6.62b: customs

Vietnam recorded a trade surplus of $6.62 billion with the United States (U.S.) in the first five months of this year, up 18.47% from a year earlier, the General Department of Vietnam Customs said.
The bilateral trade rose by 15.91% on-year to $11.07 billion in the period, of which Vietnam exported $8.84 billion worth of goods to the U.S., up 16.86% on-year, and spent $2.22 billion on imports, rising by 12.31%.
In May, the Southeast Asian nation reaped $2.2 billion from exports to the U.S., up 20.69% on-month, while its imports from the market rose by 4.06% to $471.52 million, resulting in the former’s trade surplus of $1.73 bililon, up 26.19%.
Vietnam’s export staples to the U.S. between January and May were apparel worth $3.24 billion, down 57.19% on-year; footwear worth $1.03 billion, up 20.36%; and computers, electronics and spare parts worth $478.55 million, up 38.73%.
Meanwhile, its imports from the market were machinery, equipment and spare parts worth $312.21 million, down 7.62% on-year; computers, electronics and spare parts worth $258.25 million, down 41%; and cotton worth $248.18 million, up 129.8%.
Trade between Vietnam and the U.S. rose by 14.16% on-year to $24.49 billion in 2012, with the former maintaining a trade surplus of $14.84 billion, the department said.
The bilateral trade is predicted to reach $33 billion in 2015, with the Southeast Asian nation maintaining a trade surplus of $21 billion, the American Chamber of Commerce (AmCham) in Vietnam said.
Vietnam and the U.S. along with ten other countries are negotiating the Trans-Pacific Strategic Economic Partnership (TPP) Agreement, which is expected to boost bilateral trade and investment ties.

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